The Wiki Article Could a Own Property in Thailand

Retirement in Thailand could be the dream of mine also and many foreigners. I want to relax there in about two years and have been checking out the guidelines for acquiring property in the land of smiles. The easiest solution for a (farang) would be to buy a condo. There's a share requirement regarding the total amount of farang and Thais inside the house complex. Dangerous land ownership is forbidden in Thailand. So, the best a farang may do would be to own the house and rent the land. The lease is good for 30-years and beyond that is anyones think. Some web sites say you will get yet another 30-years and other sites say that there's no guarantee. Another option is to integrate yourself as some kind of business and lease the property back to yourself as a person. This can be in the grey part of Thai law and the one that I wouldnt use. I have friends that have done this and to date it is Okay but I worry about the future. Last but most certainly not least is some thing called a usufruct. Googling this may probably offer you a better reason and extra information than I can provide. All I know is that's the possibility that an attorney suggested to me and I'll follow further on my next day at Thailand. He claims it's much like a rent but has some greater advantages. He will need to convince me. Regardless, it'll be the lease or the usufruct. Either one should let me have a location in Thailand until the day I die o-r whatever happens to the property from then on I really dont care about. There's one final solution that I very DONT propose. It is possible to place the house inside your Thai wife o-r friends name. She will then possess the property outright. There's a minor technicality that she has to prove that she provided most of the resources for your real-estate but that is a simple lie to cover. The problem with this solution is that because she's the owner, she may do whatever she wants with the house. You may have a two-week vacation and return and find that your house has been offered and your honey is gone. That is not at all encouraged. Talk with your lawyer and discover the solution to purchase/lease home for your retirement. As you have your attorneys ear, check on agreements and an enforceable will. Visit  [http://duranbook.com/index.php?p=blogs/viewstory/824496 open in a new browser window]  to research when to see it. Won't perform any purchase of the nature with no assistance of the attorney.